This hotel just made $1,941,587 & doesn’t exist #traveling #entrepreneur #startup

Key Concepts:

• Pre-selling hotel stays
• Indiegogo crowdfunding
• Validating demand before construction
• Luxury resort concept (Cosmos)
• Connecting with nature and astronomy

1. The Idea: Cosmos - A Luxury Resort

Gamal conceived of a luxury resort called Cosmos, designed to allow guests to reconnect with nature and the stars. Key features included:

• Remote location near the Great Sand Dunes in Colorado.
• Rooms with glass ceilings for stargazing.
• An on-site planetarium.
• Acquired 40 acres of land.
• Completed layouts and obtained permits.

2. Validating Demand via Indiegogo

Before commencing construction, Gamal partnered with Launch Boom to validate market demand through an Indiegogo campaign. This approach aimed to de-risk the project by confirming customer interest.

3. The Indiegogo Campaign Results

The Indiegogo campaign proved highly successful:

• Over $94,000 worth of bookings were pre-sold within the first 24 hours.
• The total pre-sold bookings reached $1,941,587 by the end of the campaign.
• This demonstrated significant demand for the Cosmos resort concept.

4. Construction and Future Plans

The success of the Indiegogo campaign enabled Gamal to proceed with construction.

• Construction has commenced.
• The first guests are scheduled to arrive in 2025.

5. Conclusion

The case of Cosmos highlights the effectiveness of using crowdfunding platforms like Indiegogo to pre-sell services and validate demand before investing heavily in construction or development. The $1.9 million in pre-sold bookings provided the necessary validation and capital to move forward with the project.